01/25/2023
🚨NERDY POST ALERT!🚨
Everyone keeps asking me "How is the Real Estate market doing"?
Well, in San Antonio Single Family homes, quantity is down 30% and prices are up 6% over last year. (December year-over-year numbers)
What does that mean? In my opinion, two things:
1. Higher interest rates and low inventory is slowing down the quantity of sales.
2. Demand is still driving prices up.
"Should I buy now or wait?"
That's an easy one. Now! Even though rates are higher than the last few years they're still less than average since 1972.
Marry the house, date the rate!
If rates keep going up you’re solid. If they go back down, simply refinance. But it looks like prices are going to keep going up and that's something that's hard to shake if you wait.